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're talking about perhaps an increase in the debt ceiling that lasts for a couple of m months, that is offering tt to the president. frankly, and russ say agree with me here, i don't think markets would react to -- very approvingly to basically just another lurch from crisis to crisis. it wasn't o long ago that, maria, you and i were sitting in these chairs talking about the fiscal cliff. now the debt ceiling. do you want to have this discussion two months from now? >> i believe everybody believes this debt ceiling will be extended. you know these guys well. you worked right there with vice president biden. let me get your take on this. if we keep fighting about spending cuts and reining in the spending, how come it's always about putting the gloves on and fighting? we're not going to do this, we're not going to do that. how come we haven't seen any proposals for spending cuts? are we going to see that, you think? >> i do think so. i mean, i think that we have to go through this unfortunately, at least recent history suggests we have to go through this crisis mentality to get
in office. talked pose i about the debt ceiling. he announced if congress doesn't work with him and raise the debt ceiling will america will go into default and we might have to sell florida. say goodbye to nana and pop pop. >> chimpy up next. >> the morning news starts at 4:30 appreciate your time have a good night. a good night. >> good night "jimmy kimmel live"! tonight ellen degeneres. the bachelor sean lowe. and music from onerepublic. with cleto and the cletones. and now from this point on, here's jimmy kimmel! [ cheers and applause ] >> jimmy: welcome. hi, i'm jimmy. i'm the host. thanks for watching. thank you for -- raising the arctic 50 degree weather to be here tonight in hollywood. very kind. i do appreciate
give on the debt ceiling. but demand a budget from congress first. the fox all-stars talk about it when we return. and even fewer that make moms happy too. with wholesome noodles and bite sized chicken, nothing brings you together like chicken noodle soup from campbell's. it's amazing what soup can do. try the #1 gastroenterologist recommended probiotic. align. align naturally helps maintain digestive balance. ♪ ooh, baby, can i do for you today? ♪ try align today. is a fantastic experience. 30 shrimp for $11.99. i can't imagine anything better. you're getting a ton of shrimp, and it tastes really good! [ male announcer ] hurry in to red lobster's 30 shrimp for just $11.99! choose any two of five savory shrimp selections, like mango jalapeÑo shrimp and parmesan crunch shrimp. two delicious shrimp selections on one plate! all with salad and unlimited cheddar bay biscuits. 30 shrimp, just $11.99 for a limited time. wow, that's a lot of shrimp. i'm ryon stewart, i'm the ultimate shrimp lover, and i sea food differely. >>> our hope is to pass something very early so the senate can take
the debt ceiling hostage? all this talk about stability in the economy, today you got 90 days worth of stability and the market did pretty doggone well. >> how many more signs do they need? >> yeah. >> that this is what the economy needs, the certainty. three month sincere definitely not certainty. >> will democrats vote for this? will you get democratic votes on this when boehner brings this up? >> it will depend on what it looks like. this is really gimmicky, gimmicking garbage at the end of the day. the responsible thing to do is to pass a debt ceiling increase because we have to pay our bills. really leaving this uncertainty hanging over our already fragile recovery is irresponsible. and to suggest that we're not going to pay our bills or tie the debt that we have to pay to anything that the republicans want to extract out of president obama is irresponsible. >> yeah. the republican that i look to right now is john cornyn. what a reversal. this guy writes an op-ed in the hometown newspaper in houston and turns around and tells the editorial board something totally different. wha
now to get something back later. we are talking about the debt ceiling. versus spending cuts. chief congressional correspondent mike emanuel reports on the house g.o.p. winter retreat in virginia. >> at the house g.o.p. retreat in williamsberg, virginia, the leaders decided they will pass three-month temporary increase to give them time to finalize a budget. speaker boehner said before there is long-term debt limit increase a budget should be passed that cut spending. the house g.o.p. whip hinted at the strategy. >> our hope is to pass something early so the senate can take action as well. i wouldn't be jeopardizingor economy there. it shows it's a rational, put us on a better path. and i would hi the american public could support it and the senate as well. >> fox news poll reveals 83% think government spending is out of control. up five points from two years ago. 69% of those surveyed say the debt limit should only be raised after major cuts. aides to the number two senate republicans does not support giving president obama a blank check but told "houston chronicle" editorial board
, nicole. >> hey, tracy and lori. we were talking about the debt ceiling that is something that moved front and center very quickly and will remain right in front of every day's trading in the minds of investors and the traders here on wall street. today the dow is down about 12 points after being higher four days in a row. the s&p has been lower. we had the back and forth action, much of the same today. when i talk to traders about the action we've seen, sometimes they're saying that the moves to the downside haven't been decisive. which then tells them that maybe the market needs to test recent highs before it can really sell off. trying to move lower and it can't. be wary of highs that sell into the profits. let's look at apple, a name we can focus on. nomura cut the price target. they reduced to 530 from 660. right now 487.16. these are the lowest levels since basically february of 2012 and obviously they had to cut their supply orders. back to you. tracy: you said yesterday, ubs kept their 700 target as well. people still have confidence in apple. lori: maybe an entry point around belo
broader macro issues, and i think it's the debt ceiling and sequestration talks, are really keeping the lid on the market so i don't suspect you'll see a real move up and through 1475 unless there's clarify coming out of washington. that's what i think the market really wants to hear. >> it sure does. rick, do you want to hear that? >> no, i don't think we will. but i do think the republicans are probably going to be more inclined when they come up with the weekend restreet strategy to pay more attention to the sequester side of the equation, my opinion. i agree with greg ip. if you're looking for the big run up in interest rates in 2013, at least in my opinion, you're going to be disappointed. here's what i still can't reconci reconcile. the beige book didn't give us a positive grow on jobs and on the 30th of month we'll look at the annualized pace of growth in the form of gdp, looking for 1.5%. another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it
for the leverage in the upcoming fights over medicare, medicaid and entitlements and talking about the debt ceiling as beverage and then the continuing resolution funding the government and coming up for exwe ration in march and going up to the deadline, past that deadline, it is not good, results in a government shutdown, a temporary government shutdown and nowhere near as catastrophic in terms of debt default. do you sense that's where the debate is shifting? republicans more likely to take a stand along the continuing resolution than the debt ceiling? >> they're backing off from this notion we are not going to prove the debt ceiling. i think the reason is as opposed to the fiscal cliff where kind of corporations and the republican intellectual establishment when's left of it sort of saying, you know, do a deal. come together. rise above. all that sort of stuff but not really getting in to the specifics, now you have the corporate world, the business roundtable, the u.s. chamber of commerce, "the wall street journal" editorial page saying this debt ceiling thing and the ability of the government
, where there will be no talk of retreat, but where john boehner will explain the debt ceiling and get his caucus to understand, where it will be economic suicide to go all in and default. at his news conference, president obama explained the debt limit to the american public and the political media this way. >> congress authorizes spending. they order me to spend. they tell me you need to fund our defense department, at such and such a level. you need to send out social security checks. you need to make sure that you are paying to care for our veterans. they lay all of this out for me. and because they have the spending power. and so i am required by law to go ahead and pay these bills. separately, they also have to authorize the raising of the debt ceiling in order to make sure that those bills are paid. and so what congress can't do is tell me to spend x, and then say but we're not going to give you the authority to go ahead and pay the bills. >> the economist made a laundry list of what would happen if congressional republicans refused to raise the debt limit. failure to raise the debt
episode of what happens if we don't raise the debt ceiling. give us the idea of what the latest talk in washington is of what may or may not happen. >> we got a call from the head economist for j.p. morgan, and we asked about treasury debts. what if it was not as secure as we thought. it would be like the painting of hell. people need to think about that. when you try to understand what is going to happen, if the white house is able to follow through on not negotiating on the debt ceiling, which i think they actually will be able to do. the president is backing himself into a corner, where he said so many times he wouldn't be held hostage, if he did, it would undermine his credibility. he sod he would negotiate, because it would essentially troy him in office. when it -- when it becomes clear to republicans, on the obligations to social security, pensioners to folks who need the defense department payments, they're going to see the financial sector, the economic sector, every defense contractor, the arp, every interest group and not just interest groups but pretty much every business
. which makes me start to get a little nervous. let's talk about the debt ceiling extension as well. does this take anything off the table for the market or is the market over watching what's going on in washington? if you look at what happened with the fiscal cliff, how that was solved within 24 hours to go. a lot of traders and investors anticipate a similar situation with the debt ceiling. whether we get this extension of three months or whether overnight some kind of resolution to it is being done it seems like the general consensus is this thing will be fixed and we will be able to move on and look forward past it. there's a blast of winter rushing through the u.s. this week. what will that mean for natural gas prices? we have seen natural gas prices climb aggressively off their lows. we pushed through 350 last week. we also had a draw down in their storage report. we're expecting another draw down going forward. but as far as other similar markets like crude oil and heating oil we've also seen quite a bit of demand for the. crude oil has a little bit more geopolitical tension so you
we saw at the beginning of the year as we get closer to that debt ceiling which we just talked about. now, the ftse cnbc global 300 gives us an insight as what we've seen overnight. we are up off session lows. asia did reasonably well. europe, ooefb trying to make sense of a lot of data this morning. bourses still mostly to the upside. the ftse 100 adding .1% there as inflation has been just about as expected for the month. the xetra dax is fractionally higher, this despite the fact that german gdp was weaker than expected in the fourth quarter. the cac 40 adding .25%. the ibex 35 down 0.3%. ten-year yields are back above r5% this morning, although they have come off session highs, ross. >> just to remind you with where we stand with bond markets ahead of that. we had a t-bill auction, yields continue to go fall below 1.8%. so that just perks things up. spanish ten-year yields just above 5%. now just reverses 4.16% is the yield and inflation data out of the uk coming in exactly as expected, really, on the cpi measure, rpi slightly weak. on the currency markets, euro/dollar, 1.34%. do
confronting -- everybody is talking about okay, now here comes the debt ceiling. i think that is frankly a dead loser, because in the end you know it is going to happen. the whole national financial system will come into washington by television and say oh, my god, this will be a gigantic heart attack, the entire economy will collapse, you guys can't be responsible. >> the only problem for john boehner and company, you couldn't just tell them they can't. they wouldn't accept that. so at the retreat this weekend, house republican leaders have been trying to coax their leaders down from the tree, not all the way, not completely on to solid ground, but maybe on a more secure branch. house majority leader eric cantor said next week, we'll authorize a three-month temporary debt limit to give them more time. further if they fail to pass the budget in that time, the members of congress won't be paid by the american people for failing to do their job. no budget, no way. so in other words, house republicans say they will raise the debt ceiling at least for now, raising it without actual passing o
, of course about the debt ceiling which smart republicans know full well is a trap for the gop. newt gingrich no stranger to setting up high-stakes showdowns with candidates, put it pretty clearly on joe. >> they have to find in the house a totally new strategy. i mean confronting -- everybody is talking about okay, now here comes the debt ceiling. i think that is frankly a dead loser, because in the end you know it is going to happen. the whole national financial system will come into washington by television and say oh, my god, this will be a gigantic heart attack, the entire economy will collapse, you guys can't be responsible. >> the only problem for john boehner and company, you couldn't just tell them they can't. they wouldn't accept that. so at the retreat this weekend, house republican leaders have been trying to coax their leaders down from the tree, not all the way, not completely on to solid ground, but maybe on a more secure branch. house majority leader eric cantor said next week, we'll authorize a three-month temporary debt limit to give them more time. further if they fail to p
republicans are meeting in southern virginia to talk about the road ahead on the debt ceiling and other issues, brit hume has analysis. everybody talked about it today where you work. outrageous hoax involving a superstar. college football player and dead girlfriend who never existed. tonight there is new info. "special report" from washington starts at 6:00 eastern. now back to "the five." ♪ ♪ >> dana: keep going. very good. i would love all of nashville to come after you today. earlier this week we discussed boy suspended from school, he was six years old because he made a gesture of a gun and said, "pow." he got suspended. this is not isolated case. this happened in maryland with two boys playing cops and robbers. they got suspended. the other parents at the school didn't think it was too great an idea. listen to them. >> suspending them is harsh. i don't think it will do any good for the parents, child or the school. >> people trying to make example of things they shouldn't. blowing things out of proportion. they have gotten strict and overboard on things. i definitely don't think it w
on the debt ceiling which is that all of the talk about how crazy that position was and how dangerous it was, has in a weird way, made -- if they go forward and do the straightforward government shut down over the cr, for example -- >> the continuing resolution. >> right, less scary, less like a big deal and less, you know, nuclear than what was being discussed before and in a way they've kind of given themselves room to go bigger on some of these things than maybe they would have had before. >> chris: and, one thing i would say is there is a new realization by the house leadership and the house ment n mentione mentioned. mentioned... coming up, after the break, tougher gun control laws, will congress pass the president's new plan? >> chris: still to come, our power player of the week. >> when word gets out the president is coming to worship. >> chris: st. john's has been linked to presidents for almost two centuries. >> you almost feel like the church will tilt over on one side because there are so many people on that one side. ♪ >> president barack obama: most gun owners agree that we c
the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've got to make it happen. again, it's got to be the voice of the american people that will make it happen. people don't realize that 60% of our discretionary money go to the defense. wewe need and want a strong defense, with you but quite frankly out dateed cold war-era weapons can be taken off the table. there are many, many ways we can save money with defense in our pentagon budget, and never even touch anything that would affect our troops and their benefits and their families or national defense. nothing is off of the t
will negotiate a solution to the other fiscal issue that is are almost simultaneous but talking about the debt ceiling, what? he'll stop participating? given that this is traditionally been a bargaining chip, traditionally been something that the parties negotiate over, i have a hard time he'll be able to maintain a hard line. >> speaker boehner said he would stop participating in talks directly so i mean the threat is out there. real quick, governor, i have to bring you to the markets and this agency, a second agency, fitch, now warning that it could, all of this could affect the credit rating for the united states when folks start looking at what's happening on wall street, when they hear this threat of credit issues or credit rating for this country. being downgraded. does that expedite the talks here or get even talks started? >> well, i think the president did a great job politically putting the republicans on the spot. if they are the ones who cause us to not meet our debt obligations, i think they risk, again, political retribution and losing the house in 2014. but on the other hand, th
it happening in more places. >>> the president talked forcefully he will not negotiate about the debt ceiling. let me play what one of your republican colleagues told me about that yesterday. >> would you be willing if you don't get the cuts that you think are necessary, would you be willing to go into default or shut down the government? >> i think there is a way to avoid default, if it requires shutting down certain portions of the government, let's like at that. >> are you worried about a shutdown or worse, are you worried about default? >> i'm worried about both. default is like saying i ran up my credit card and now i'm not going to pay you it's going to be bad for the united states. i think we need to pay our xwils. that's the first thing. with respect to shutting down the government so we save money. we know anytime we shut down the government, we actually spend more money in the long run. i do believe we need or national parks or rangers there. i do believe that it is important for us to ramp up our transportation to fill those potholes, to make those connectors, to give money to am t
to be talking about economic growth because we're going to be talking about a debt ceiling debate. we're going push ourselves all the way to the end much it, republicans are going to say that they are going to just say no to raising the debt ceiling and then what happens the day after? suddenly they start getting phone calls from whether it's jamie dimon or the coke brothers, or you larry kudlow and what's going to happen? they will set themselves up for failure again. one more example how we're not a conservative or not moderate. >> joe may be right but let me tell you in ten years we'll spend every dime of revenue on entitlements and debt service and the president need to show some leadership. >> as always we ran out of time. that's it for tonight's show. thank you gentlemen. i appreciate it very much. [ male announcer ] staples is the number-one office superstore ink retailer in america. now get $6 back in staples rewards for every ink cartridge you recycle when you spend $50 on hp ink. staples. that was easy. when you spend $50 on hp ink. we replaced people with a machine.r, what? customer
today talking about his tone talking about the debt ceiling. here is the prident. >> the debt ceiling is not a deal of authorizing more spending. raising the debt ceiling does not authorize more spending, simply allows the country to pay for spending that congress has already committed to. gerri: what do you say to that? speaker he is gearing up for a partisan brawl. his press conference today was a little hypocritical because whe he was a senator in 2006 and george bush wanted to raise the debt ceiling he said no and called george bush failed president. gerri: one of the reporters got up and said only a few years ago you were saying that this kind of fight makes no sense, would have to have fiscal discipline. what do you say to this? speak of the president has been the beneficiary of large increases in mandatory spending because two-thirds of the spending is mandatory so he doesn't have to pass bills increase spending. the public is not aware of it, spending now 24% of gdp historically 20% of gdp. gerri: and deficits far as the eye can see. clearly this is a situation that cannot co
we've heard him say many times before, that he is not going to negotiate on this debt ceiling, that he's prepared to talk about spending but if he does, it's not going to be around this. so why have the news conference? >> well, what happened was in recent days the discussion around the debt limit had really intensified basically on two fronts. you had what really concerned the white house was that the republicans were increasingly beating on this drum that they were going to use the debt limit fight to extract spending cuts. they were going to use it as leverage in some of these upcoming budget debates. on the flip side of that, there were some republicans who were just talking in a way that was very casual about what would happen if the u.s. decided not to raise the debt limit and defaulted so some of its obligations. that raised alarm here at the white house. then on the other side you had democrats who were pressuring the president to find a way to unilaterally raise the debt ceiling through executive power. what the president tried to do today was squash all of that and s
as we get to this debt ceiling debate. talk to me, from your perspective, about this notion of compassionate conservatism. there was a movement 12 years ago to present that as an alternative. what happened to that? >> i would be glad to go down that road but i do not think it is useful. in the 1970's, jack was trying to gently develop a real understanding of how to break through at every level, housing, learning, jobs. and who i always told people, as a football quarterback, had showered with more african- americans than most republicans knew, had a deep, passionate commitment with every american he met. his heart was big. he did love everybody, to a point where it drives you crazy. you think, slightly less love, jack, it is ok. the use of it by the bush people was a political slogan to show they are softer than the gingrich republicans. they did not think through any serious, systematic program. i want to commend you. sitting here, i had two ideas, sufficiently radical, that would never have occurred without this conversation -- [applause] i did not say right or left. i jus
dermott's reaction to the president's tough talk on the debt ceiling. e.j. dion and ruth con connaught on whether the republicans will actually listen. >>> one month after sandy hook, he has the president's gun recommendations. >> will spineless republicans kill reform? one threats impeachment if the president signs an executive order on guns. dan gross of the brady campaign is here with reaction to the president's comments that the nra is joining up fear to sell guns. >>> and former secretary of state colin powell calls out republicans on race. >> there is also a dark -- a dark vein of intolerance in some parts of the party. >> dr. james peterson janes me to discuss the republican response. >> good to have you with us tonight, folks. thanks for watching. president obama took on the single greatest threat to the global economy today, the republican party. the president used the final news conference of his first term to throw down the gauntlet. after years of deliberate confusion by republicans, president obama set the record straight on the debt ceiling. >> now, the other congressionally imposed
republicans. is that what he's trying to do on the debt ceiling debate as well. >> you can the white house adopt a divide and conquer strategy for quite a bit of time. there are 85 house republicans who voted yes on the bill and created the margin it needed to pass. here's the interesting thing of those 85 republicans who voted yes. 70 of them came from blue states. states that voted for barack obama over mitt romney last november. in other words the white house is defending on some of these blue-state republicans. that means if the white house can drive a wedge between the blue state republicans and the red state presence he might be able to get dicey piece of legislation through the house. >> john: it seems to be a strategy. where does the debt ceiling fit into this? it just ensures that we pay the bills that we already spent. why are they talking about the two issues as if they're the same? >> why do they do a lot of things. but the question as that vote approaches in february or march whenever it's going to be, there are two questions actually. number one will boehner let a vote happen
of months, we talk about the debt ceiling, what good is a ceiling if you keep raising it and you don't make spending cuts to keep yourself under that number? it has no purpose. >> neil: i want to take a look at the corner of wall and broad. many argue the reason why it was up 62 points is the fact that, whew -- it's a relief they won't bring this to the brink. i would think cooler heads, wruns they prevail, they may not like -- democrats and republicans -- essentially, punted on this. and they just delayed making the tough choices. >> for some reason, obama and the senate democrats have gotten away with an extraordinary amount of nonsense. they haven't put forth a budget -- >> neil: they say they will and include tax hikes. >> will it make significant cuts or will it be the baseline budgeting? -- [overlapping dialogue] jierks do you think -- >> neil: do you think they are going to see through this -- that is the markets? >> yeah, i think they are going to kick the can down the road. i don't know, i mean, republicans seem to think they need to cave to get the fireworks on the left -- >> neil
talking about the debt ceiling. but teetering on cliffs and bumping up against ceiling is no way to run a country. to your president what could president obama do if he wants to have a legacy of which he can be proud. give a speech, a major public policy address to the eradication of poverty in our country. he's going to be inaugurated for a second term on the king's holiday. how dare any president on the king holiday stand with king's monument just a few blocks down the street and not talk about the issue that he gave his life for, the poor. you quoted him beautifully and he talked about that being the passion of his life. one, he has to give a major public policy address on what he'll do as our leader to eradicate poverty and then bring the experts together and craft this plan that you referenced earlier to cut policy in 10 years and eradicate it in 25. >> john: i'm depressed how many people forget that dr. king stood against anti-militarism before he died. do you think if the leaders lead people will follow, and it will be finding a way to get people vote and more importantly, voting
. there seems to be almost universal support. >> you're also talking about the debt ceiling, three-month extension on that. >> the interesting development is that house republicans had a retreat in williamsburg and just came out with word they want to extend the debt ceiling for about two, three months because they don't -- they want to have a battle over spending with the president but not over the possibility of default. they know that would tank the economy. it would rile up the financial marks. i think they'll kick that down -- markets. i think they'll kick that down the road and have a fight over sequestration. one way or another they'll have a logger head with the president when it comes to cuts and dramatic spending. >> your power play of the week? >> reverend ruiz leon, the church of the president. i've lived in washington 30 plus years and never been inside the church, driven past it plenty. beautiful place. presidents have gone there since 1816. president obama will go there for his preinaugural worship service monday. >> speaking of inauguration, big plans for ask you? a
. >> obama held the final press coaches of the first term in office. talked pose i about the debt ceiling. he announced if congress doesn't work with him and raise the debt ceiling will america will go into default and we might have to sell florida. say goodbye to nana and pop pop. >> chimpy up next. >> the morning news starts at 4:30 appreciate your time have a good night. a good night. >> good night
in the senate are on board with it. they are talking about it regarding the debt ceiling when i see you next, kyla campbell, ktvu channel 2 morning news. >> on our website as well, www.ktvu.com. >> i'll take that, including beyonce, she sang the national an them. >>> they are hoping to be led to the suspect involved in the robbery. three people were able to escape from the store after the shooting from the bullet proof glass. >>> they are deciding whether to approve a consulting contract for bradden. they don't like that he stopped to frisk tactics. but in a letter, they praised him and they said racial profiling will not be tolerated. if approved they will pay his consulting firm $200,000. >>> they set off a hollywood bidding war. the movie called fruit veil, they are now all bidding for the film and the drama was written by newcomer ryan cougeller, and it chronicles the shooting from four years ago on the bart station. >>> they will put bike stations around marin and riders could borrow them for short trips. the first bike program will start this summer with stations from san francisco to
. talking about the debt ceiling and putting in jeopardy the full faith and credit of this country is going to hurt everybody, including middle class people and people trying to climb up the ladder. it is reckless. they talk about paying some bills and not others. you tell me which ones. individual homes have trouble doing that and prefer not to. the greatest nation in the world, will pay some bills and not others and bond holders and defense contractors and social security recipients? host: jodie on twitter asks -- guest: sure, there are administrative costs, social security and medicare. it is better than any -- of course there are. there is always a need to have more efficiency. there is no excuse for tampering with the full faith and credit of this country. host: joe from houston, texas. caller: thank you for taking my call. the president ran on raising taxes on the upper class. he raised taxes on 77% of us. where are the spending cuts? guest: the president laid out in his press conference there have been $1.5 trillion in terms of spending cuts and caps on appropriation bills. those cap
seeking to pass a four-month extension of the debt ceiling. joining us to talk about the debt fight in congress, jeffrey solomon, ceo of cowan and company. he's making his way to the "squawk" set. what we call a perp walk, no guy that runs a big wall street needs a perp walk, do they? >> squawk walk. >> kind of like walk like a duck. >> all right. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >>> welcome back to "squawk box." joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speedin
that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities for poor children beginning to close the wealth gap is a priority. >> raise the health care law. i think it's very important to remember that law isn't fully operational, yet. there is -- yes, exactly. there's an enormous amount of work to do. there's a lot of resistance in the states. that's going to be a struggle. >> one piece of that is in 1997 we did a balanced budget deal. one thing that happened when that period of republicans and democrats came together was step back and as part of consolidating the budget, they shift resources. that was the deal. it was a deficit reduction deal. one thing it created was a children's health program. it's functioning today. it isn't the case of periods of deficit consolidation. it's not just cutting and grinding these things out. how to run a smarter government and run things into resources we need. they have to be willing to do
says he's not going to talk about the debt ceiling, speaker boehner said it can be done unless we cut spending at the same time. what are the odds of avoiding going over the fiscal cliff given where both parties are. >> they are going with the american economy and the global economy. closer you get to the fiscal cliff, i think the less likely it is that the u.s. will be funded over and. >> okay, let me ask about tax reform. mutual political last week that a balanced approach to placing the sequester with benefits and revenues should accelerate tax reform, and i believe it's fully possible this year we work on a bipartisan basis. how does that square with the people that say that the tax reform is going to lose out because of scheduling and needing to deal with the debt ceiling and the looming sequester and house republicans concerned that if they do anything on tax reform, that they may leave themselves open to the senate not taking action. therefore, they have taken in on popular vote for no reason. >> first of all we have to solve this debt crisis in terms of sequestration and in te
, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the president and congress? >> no. i think we're going to get a short reprieve. i think we're talking about, you know, what the republicans were talking about, i was actually at the gop retreat that maria just referenced and it's a possible three-month extension. but at some point, the problem, the whole problem, has got to be dealt with in a holistic way. the deficit has got to be dealt with. debt has got to be dealt with. spending has got to be dealt with. we can't just continue raising the debt limit without there bei
sequestration. there was talk this we, at the possible offer from reblics on the debt ceiling. we are facg two different dedeadlines. republicans are sayining, we might give an extension until april 15. if youo not do it, no memberer of congrs will get paid starting april 15. what is your takake? >> i certaininly think that both governrnors would love the idea of congress not getting paid until it does what it needs to do. they have all of these deadlines. sesequestration, which they only push back two nths. theyey have a continuingng resolution to fund the government. it is comi in a matter of weeks. and there is theebt ceiling. it could be financially damaging. >> we do not know when at iss coming. >> the date keypad, february 15. --ou pegged bruary 15. >> it could be disastrs. you have heard a lot of officials from state and local government reminng congress that t there is a huge spillover effect. right now, they are still negotiating. there's still trapped in negotiating cuts in the long- term deficit. -- they're still trying to negotiate cuts in the long term deficit. >> the republicans
to read this part to you. the more prudent course, he is talking about the debt ceiling debate, would be to find an offer that can not be refused of the short-term tradeoff utterly unasailable and straightforward. for example, charles krauthamer writes, say, extend the debt ceiling through may 1st. this is idea by charles krauthamer maybe it is in the works. jon: that is a asking a lot for the senate, don't you think, to pass a budget? jenna: that is a little sarcastic, jon. there is important part. lawmakers in the republican actually talk about spending cuts andly put forward proposals if. if there is no budget. jon: if there is no benchmark to compare your numbers against you spend as much as you want. jenna: so we'll see if they get it. the gop says this is what their offer is, three months or so for the senate to come up and pass a budget. we'll see if they can do it. jon: we'll keep an eye on that one. the campaign button, once a mainstay of american politics quickly becoming a relic. digital web sites are becoming so effective reaching voters that the old lapel button might soo
ceiling and passing a gun control. >> he is going to talk about our political system does not settle all of our differences >> after the official business. it will party at the inaugural ball. in washington, tory dunnin. >> and you'll be able to watch the inauguration ceremony live during the kron-4 morning news on monday. it will start at 8-30 in the morning. and we'll also have the inaugural parade live on our 24-7 bay area news channel - starting at 10-35. >> temperatures in the 30's and '40's. even the chance for some chanel showers. looking great, plenty of sunshine and temperatures making it into the mid '60s. look for readings in the low 60s. 65 degrees. berkeley, richmond, oakland. and this nice weather will hang on for another day. 60s and sunshine. for wednesday, this weather system is coming through with harley of mostly cloudy skies. sunday for thursday and friday of the chances for storms with rainfall possible. >> we will continue our coverage and a gary radnich will also be back with the recap >> the 49ers are favored by 5. here is how it is a set of. colin kaepernick. it
probably be against some of the things he was talking about, particularly the debt ceiling. the senator called it irresponsible to increase the debt. listen to then-senator obama. >> the problem is that the way bush has done it over the last eight years is to take out a credit card from the bank of china in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents. number 43 added $4 trillion by his lonesome so we now have over $9 trillion of debt that we are going to have to pay back, $30,000 for every man, woman and child. that's irresponsible. it's unpatriotic. >>steve: there you've got the president, back then senator, back in the day saying that president of ours, he's running up the bills, and it would be unpatriotic what he's doing. and we cannot raise the debt limit. forward to his administration, and i think this is going to be the fourth time he has asked congress to up the debt ceiling. of course what he said is, i know the republicans want to try to get some sort of spending cuts and stuff like that. i'll deal with it. just not over
talk about the debt ceiling after obsessing over the fiscal cliff, the more i look at the whole thing as a massive dangling the key or, you know, don't look over here at the real economy, which is where people would really like policymakers to be dealing, but look at this so-called fiscal crisis which doesn't even exist. the president very clearly, and i thought helpfully, spelled out the numbers yesterday and actually to get from where we are, given the spending cuts and tax increases that we've implemented so far, to where we need to be to stabilize the debt, is not that heavy a lift if we had a functional politics that was actually paying attention to what needs to be done instead of creating these ridiculous self-inflicted skirmishes and wounds. as you have correctly pointed out, you have even got conservatives spokespeople saying, look, this isn't going to happen, you're not going to do this. we're going to have one of these last minute solutions again. if that is truly the case and if history is precedent, it will be, we really have to ask ourselves about our priorities. >> and
on very soon to talk about the debt ceiling, and it's going to be -- we're going to see the exact same extremism there. we already know there's going to be a huge fight and it's going to be played to the end with the highest stakes. >> marco rubio's comment, you know, goes to karen's point. it shows what he cares about now is through the republican base in 2016. to rush out right away and say this is an abuse of power and, you know, two dais ago, whenever he gave his speech, yesterday, immigration proposals, which were almost exactly the same as barack obama's, what do you know? this is a guy who wants to have it both ways and keeping his eye on that base, as small as it is, people voting in the 2016 republican presidential primary. >> if it gets much smaller, they are not going to vote for him. >> mark levin yesterday on fox said i'm not into imperial politics and obama forgets there's a constitution. i just don't know that is a winning message. when you watch the president out there, who listen, hey, clearly is reading the same memo frank luntz is writing, common sense, reasonablenes
: okayment congressman? >> guest: i think you're right. i think you're talking about the debt ceiling and porting in jeopardy the full phase and credit of the country will hurt everybody, surely middle class people and people who are trying to climb up the ladder. it's wreckless, and when they talk without, well, let's pay some of the bills, and let's not pay others. i said to a reporter, asked me yesterday about this, i said, well, now you tell me which ones. you know, individual homes have trouble doing that and prefer not to. a nation the greatest nation in the world says we're going to pay some bills and not others and bondholders and defense contractors, and social security recipients. >> host: jodi on twitter asks "why is medicare, social security, and veterans services the only thing we hear about? isn't there administrative costs?" >> guest: sure there's administrative costs. administrative costs in social security and medicare. by the way, it's in terms of administrative costs in better any other. of course there are. there's always a need to have more efficiency, but there i
and not even just talking about the debt ceiling, but if he is to do -- with regard to the gun control and universal background checks and he is going to have to spend a great deal of time and a great deal of political capital to get that done. >> the white house says a few things about this. one thing is he has his coalition that elected him by a strong margin behind him and they'll amplify that coalition as much as they can to try and push action, but they're looking at this as a three-track deal and the immigration reform measures they'll start pushing plus gun control. >> in four or five months he becomes a lame duck president. >> pretty much. >> we'll come back to you guys later in the show and i want to talk about what happened in the gop retreat, as well. >> coming up, though, 50 years ago she predicted america would not see an african-american president in her lifetime. maya angelou will join me in just a few minutes. >>> also the little girl that stood beside president obama as he unveiled the new gun proposals and the letter that helped move a president to action. 8-year-old
the hour. martha: so debt talks are also heating up now in washington as the national debt is speeding towards the country's spending limit once again, folks. you know what that means. talking about time to raise the debt ceiling, right? president obama warned he will not enter into another game of brinkmanship as he referred to it over the debt sealing with republicans. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. investors around the world will ask if the united states of america is in fact a safe bet. the full faith and credit of the united states of america is not a bargaining chip. martha: a lot of talk about the president's demeanor at that news conference yesterday. we'll get into that a little bit more coming up but for now does this really come down to an issue of raising the spending limit or defaulting on our credibility as the president has talked about. let's bring in stuart varney, host of "varney &
] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am happy that you have been carrying on this kind of conversation over the last few years. let me try and see if i can put something in context for you -- i think that is something we never really talk about. a lot of this fiscal cliff stuff is really smoke and mirrors -- when you sit back and realize the largest portion of the debt of this country is really three things -- one is two wars we never paid for, what is a medicare part that we never paid for, and the other part is the bush tax cuts. those of the largest portions of the debt of this nation. what they're trying to do now by cutting what you call enti
years later we are together. i think we talked about the debt ceiling three years ago? stuart: we did. what do you think about this gift? what do you think, accountant? tracy: i think the irs is doing a happy dance, they've got big tax collections on it. >> as long as he pays taxes on it, i don't have a problem. >> save me. charles: all i can do is echo you, i just have a big problem with al gore. stuart: thank you very much. tracy: this is why charles and i are still on the show and chris and i are not. stuart: a special anniversary highlight reel is next.
the citizenship -- with the documents and there are big fiscal fights coming up with the debt ceiling and running the government that will occupy his time. >> if you were a betting man what would he have success with/ >> immigration is the biggest one and republicans may support that. everything he talked about, i don't think in a year he'd pass it all. >> the innaaguration of 2013 -- they are making plans to make it go more smoothly and how the badnsnds are preparing. >> what a treat we had today lower sixties. big changes tomorrow. wait until you feel the difference. ♪ ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print and have it picked up for free. any time of year. ♪ ♪ nice sweater. thank you. ♪ ♪ >> tomorrow will see changes learned from 2008. the metro will allow drivers to pay for parking on their way out of the lots after people were waiting in line to park and spilled out on the interstates. but that is far from the only change. >> when pre
yesterday talking about the debt limit, debt ceiling. he's talked about our economy. i think it's worth noting that since 1923, when the president was required to furnish a budget in a time deadline given for furnishing that budget, 90 years, 90 years the president is required by law to furnish a budget. since 1923 those, those ensuing 90 years, there were apparently 11 times when presidents have been unable to get the budget to congress as required by law. and most of those -- well, some of those 11, there were very good reasons. but it's interesting to note in the last 90 years, out of the 11 times that the budget from the president has been late, four of those 11 have been under the obama administration. we're also informed that there is a chance once again, like there was a year and a half ago, that our credit rating of the u.s. could be lowered again. by another credit rating agency. some have tried to paint it as a different story, different picture, but for those of us who recall what happened, s&p made it clear that they didn't believe that the united states was serious about de
. he will join us in the next hour to talk about the debt ceiling debate. "squawk box" will be right back. >>> up next on "squawk box," don't start your day without knowing the names that will make you money. joe has your list of stocks to watch right after the break. >>> all right. put this on. it's traveling wilbur. we've got george harrison for your lead for your song >> no, no, no. >> that's a good one. >> but it's all right. and implied there is being a billionaire. ♪ it's all all right i mean, it's -- it is, right? life is good. >> that's true. it may not play well in washington. >> might not play well in washington. i'm going to actually give some information during this segment. much as i'd -- >> you know, that would be a switch. >> that would be a switch. let's take a look at some stocks to watch this morning. lennar reported fourth quarter profit. 56 cents a share. 12 cents, look at the chart, we're talking about the big year that bill miller had and a lot in housing stocks, and if you went back even further you could have bought that thing even cheaper all the way back a
street lower today.. this morning >>> worry over the debt ceiling is keeping wall street lower today. yeah, but it's up a little bit up 20 points at this point with a little over an hour yet in trading. >>> some big anticipation this morning for facebook's big announcement. ceo mark zuckerberg revealed the social network's new search feature. it's called graph search and enables users to search for information about their online acquaintances. for example, it's possible to look among friends of those who live in a particular city and like a specific movie. zuckerberg says graph search is privacy-aware in the sense that users can only search for content that's already been shared. >>> and this is pretty cool. walmart is vowing to hire every veteran who wants a job. walmart projects it could mean hiring more than 100,000 veterans over the next five years. hiring pledge is good for veterans who are within 12 months of leaving active duty. right now walmart employs 1.4 million workers here in the united states. >>> if you haven't gotten it yet you pr
. talking about raising the debt ceiling. look what it did to the vix, to the downside and for the week, maria, the important things is all the moves into cyclical names. energy and industrial stocks all moving. back to you. >> thanks, bob. a lot more coming up on this jam-packed edition of the "closing bell." 80 companies will post earnings next week. despite the shorter week, a lot of them big-name technology companies. a panel of market pros will tell us how they expect this to drive the market and later, asleep at the wheel. the fed releasing transcripts from emergency meetings in 2007 as the crisis was just beginning, and, boy, did they miss the big picture. the story coming up. also ahead. holy car auction! the batmobile from the popular 1960s tv series hits the black this weekend. our robert frank on the lowdown with how high the bidding could go. which batmobile would you buy right now? we'll reveal the most popular coming up. i'd say you've got to go with adam west or michael keaton, my two favorites. what is your favorite? back in a moment. e >>> welcome back. another blockbus
, gun control, immigration reform, debt ceiling. the president is going to try to lay out a grand vision. his aides say he wants talk about it coming together but others suggest he wants more division. >> he is going to talk about our political system doesn't require us to resolve all of our disputes, but it does require to seek common grouped. he'll make that point that people in washington need to seek common ground. >> i was surprised to see him transition his campaign committee to have an effort on the washington debate because it doesn't seem to me that the lesson of the first term worked out very well. >> roy blunt saying that what he wants to see and beyond is more presidential leadership. the president's aides say he'll talk about the leadership but more of a grand vision as we have seen in many addresses, especially in the second term, president bush and is the clinton, they tried to shape a vision. he will fill in the policy details whether he goes back to the capitol hill. >> arthel: ed, thank you very much. did you know that each inauguration has a seen. tomorrow it's called
not raising the debt ceiling or shutting down the government, what have you, is a winner in the court of public opinion? >> well, again, we don't want to shut down the government, but in the court of public opinion, people also know that the federal government and the out of control spending is unsustainable. and large majorities of the american people want us to cut spending, to start making the tough decisions, to balance our budgets, start living within our means. the american people, in their own families, they understand that you have to do that. you have to make the tough decisions. you have to get your budget, you've got to put it in order. and they expect their elected officials and their leaders to do likewise. and that's what needs to happen over the next few weeks, as we approach all of these fiscal debates. >> so you think, it's possible that there could be a shutdown of the government, but you're saying, you don't want to shut down the government? >> no, we don't want to shut down the government. what we want is for the president to get serious. and as i mentioned earlier
of reaching the debt ceiling, yet both sides seems locked in congress are not going to talk about the debt ceiling. speaker boehner says it can't be done unless we cut spending at the same time. so having watched this for more than 30 years in congress, what are the odds of avoiding going over the cliff given were both parties are? >> the odds are that we won't do it. it's a matter of faith. it's a matter of consequence. i mean, those who say okay, let's toy with that, they are toying with the american economy and they are toying with the global economy. and so, i think it is somewhat -- it seems great to talk about to the ninth, but the closer you get to that class, the less likely it is that you'll find the u.s. over it. the mac for me ask one other in the loco to grind out third start. he told "politico" last week that a balanced approach replacing the sequesters spending cuts and revenue should accelerate tax refund is fully possible this year for work and by person basis. does that square with people estate tax reform is going to because of scheduling. need to do with the limits of ku
the president and he talks about the impending debt ceiling where he's urging a compromise talking about a grand bargain and the second is him talking more recently in which he says, i'm not going to compromise. take a look. >> i'm asking you all, to make your voice heard. if you want a balanced approach to reducing the deficit, let your member of congress know. if you believe we can solve this problem through compromise, send that message. america, after all, has always been a grand experiment in compromise. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. the last time they threatened this course of action our entire economy suffered for it. >> all right. the trajectory of the perspective of compromise. >> that's entertaining but i think a i have a little bit of minority opinion. some of it is a bit overstated. in you're preamble setting this up. to assume that when the p
, that speaks about individual freedom. and to indicate that even as we discuss budget talk and the debt ceiling we must recognize the freedom of the vulnerable to be safe and secure, to be without -- to be having the support to be able to have food and clothing and a home. that is freedom as well, my friends. so we debate the questions of the debt ceiling and whether we have a budget. let us be reminded that freedom is a gift of god and that it should not be denied to those who are most vulnerable, those who are the speak, those who cannot stand for themselves answer the president made it very clear that freedom is not to the powerful, it is for all of us. we all are created equal with certain unalienable rights of life and liberty in the pursuit of happiness. i yield back my time. the speaker pro tempore: the gentlewoman yields back the balance of her time. for what purpose does the gentleman from new jersey seek recognition? the gentleman from new jersey is recognized for one minute. mr. pallone: thank you, mr. speaker. today marks the 40th anniversary of roe v. wade, and ultimately decisions
ceiling. yet both sides seem locked in concrete. the president says i'm not going to talk about the debt ceiling, speaker boehner says it can't be done unless we cut spending at the same time. so having watched this for more than 30 years in congress, what are the odds of actually avoiding going over the cliff given where both parties are? >> i think toeds are that -- i think toeds are that -- the odds are that we won't do it. >> as a matter of faith? >> it's a matter of faith, it's a matter of consequence. i mean, those who say, okay, let's toy with that, they're toying with the american economy, and they're toying with the global economy. and so i think it's somewhat -- it seems brave to talk about doing that, but the closer you get to that cliff, i think the less likely it is that you'll find the u.s. over it. >> let me ask one over, then we'll go to rick and brian to start. let me ask you about tax reform. you told politico last week that a, quote, a balanced approach to replacing the sequester with spending cuts and revenue should accelerate tax reform, and i believe it's fully poss
of reaching the debt ceiling. both sides seem locked in -- the president said i'm not going talk about the debt ceiling. speaker boehner said it can't be done unless we cut spending at the same time. so having watched this for more than thirty years of congress, what are the outside of actually avoiding going over the cliff given where both parties are? >> i think the odds are that we won't do it. [inaudible] as a mart of faith and consequence. those who say let's toy with it. they are toying with the american economy and they are toying with the global economy. and so i think it's somewhat -- it seems great to talk about doing that. but the closer you get to that cliff, i think the less likely it is that you'll -- [inaudible] >> let me ask one more and go to rick. let me ask about tax reform. you told "politico" last week that a balanced approach to replacing the sequester was spending cut and revenue. should accelerate tax reform. i believe it's fully possible this year if we work on a bipartisan basis. unquote. how does that square with the people that say tax reform is going to los
. watching your pulse. >> watching your pulse go up on your wristband. >> okay. let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to reduce the security that people expect in their old age. so we're talking about social security here. talking about mid care. we're talking about medicaid. these are foundations for the future life of most of the working population of the country at the moment. if you cut them, people will draw back in their current activity, at least to some degree. >> right. >> so you're basically saying you're going to do something which will squeeze people's living standards out in the future. it will not have any direct effect today on economic activi
talking to people about the debt ceiling and the sequester fights saying we're going down the road of doom, the country is going to default. you know, boehner broke the hastert rule once because of larger necessity, and i don't think that doing that makes it any less likely is he going to do that. i really do think these guys as long as they get to take the vote that they want don't really necessarily -- this doesn't stand for all of them, but as a group they don't necessarily care. >> jonathan makes the point that on the sandy relief bill they did the same thing, which was register opposition, pass it with democratic help. i feel like that is sort of under mining short-changes thinking republicans, which is to say can you do this for two years? basically register opposition and then let democrats sort of push the legislation through and not have anybody clued into -- that's what you're doing? >> they really care about this. they're not making it up or fake it. they really, really think that it would be better not to raise the debt ceiling, and so what you do is let the democrats on it. we
in the coming weeks as we get to this debt ceiling debate. talk to me, from your perspective, about this notion of compassionate conservatism. there was a movement 12 years ago to present that as an alternative. what happened to that? >> i would be glad to go down that road but i do not think it is useful. to gently develop a real understanding of how to break through at every level, housing, learning, jobs. and who i always told people, as showered with more african- americans than most republicans knew, had a deep, passionate commitment with every american he met. his heart was big. he did love everybody, to a point where it drives you crazy. you think, slightly less love, jack, it is ok. the use of it by the bush people was a political slogan to show they are softer than the gingrich republicans. they did not think through any serious, systematic program. i want to commend you. sitting here, i had two ideas, sufficiently radical, that would never have occurred without this[applause] i did not say right or left. i just said radical. [laughter] one is talk about schools and talk about saving t
. we talk a lot about the debt ceiling and the fiscal cliff, what has gone unnoticed is what is happening at the federal reserve. we're talking about $1.46 trillion in bank reserves parked at the federal reserve, it could rise 2.6 tree and dollars by next year so look at this graph line we are showing you. back to 1960. you will see flatlining through 2010 and look at that spiked higher on the far right. now trending toward $2 trillion, north of that by next year, so talk about what happens when the federal reserve drops interest rate and pays the bank to park that money at the federal reserve, what if it dropped it to zero? federal reserve says we can actually raise interest rate and keep the money parked at the federal reserve. paintings half of a percentage point. in other news that has gone totally unnoticed, they will hit more than $3 trillion by the end of february, so that it'd be deal. talking for the first time the explicit unemployment target rate around 6.5%, and you can imagine the fed balance sheet will continue to balloon until we get the jobless rate down. $3 t
heard talk in the republican conference about a one or two or three month extension on the debt ceiling. and on a continuing resolution for the budget to run the government. is that one to three month solution not still on the table? >> well, larry, we're proposing a number of different solution, both short term and long term. frankly, president obama needs to start rolling up his sleeves and focusing on both instead of sitting over in the white house and kind of throwing out all the threats to everybody across the country and running around campaigning as if he's still running for office. you know, the election is over. president obama actually has to start governing and addressing the problems and frankly the spending problem is one of the biggest reasons right now why we're in this dilemma. >> you're still going full bore on the spending sequester? full bore, spending sequester? >> we need to address the spending problem in washington from many different fronts. that's one of those fronts. there are a lot of others. and again, president obama refuses to talk about any of them. he doe
this week, we talked about it, indicated a willingness to do whatever it takes to raise the debt ceiling whether congress goes along with it and now to keep the guns out of hands of people that he doesn't want them to have. even though this is not a federal function and even though he can't change any laws without congress. >> megyn: and that's the thing, executive orders are not to be used to change the law or get around congress's unwillingness to pass the law and that's why we have separation of powers. and you can't go too far with it, if you want to clarify further enforcement, sort of assist an existing hlaw that's one thing, if you want to create an order that cannot be passed you're on dangerous ground. >> two examples, harry truman became president, signed an order desegregating the military and the civilian work force in the federal government. a great thing to do. then he issued an executive order seizing the steel mills so he could have all the steel he needed for the korean war. supreme court said you can do the first one, can't do the second one. the first one complements t
to get a change of men , maybe we should bring them to talk about the debt ceiling. >> gregg: they are so good at everything. they do have a tendency to get the silk stockings over the least things. remember when we changed from french-fries to freedom fries and they got upset and then disney world and big macgs? >> this is an important issue. we do have things to worry about like unemployment and debt ceiling, but this is big. basically what was happening it was on the menu. it said champagne and champagne technically comes from a part of france. >> gregg: a region of france. >> right and the lobbyists went crazy over this. u.s. law says as long as you show the origin of the grapes it's already but they put california on the right side and on the left side -- >> only the french would get upset about that. >> gregg: the problem is there is too many lobbyists in washington. we put on green room on this. it's astonishing. there are 12,051 lobbyists that are actively lobbying. >> $3.3 billion in one year. >> gregg: i didn't do that. if you do the math, 22 lobbyists for every single member of
talk-show host, president obama demanding congress raised the debt ceiling. when we come back we will be telling you about the lawmakers who he has informed he will miss his own budget deadline. it is actually a legal deadline, but you know, that is a minor technicality for the salmon restoration. the "a-team" takes up that technicality and more next. stay with us. ♪ lou: let's get to the "a-team" right now. former congressional candidate, fox news contributor. thank you for being here. let's start with the president saying that the issue here is not the second amendment. it's about taking away. what is the deal. why is he not being straightforward? >> because he is president obama, and that is who he is. i saw the rev. earlier talking about the moderator. he blamed the shows. chicago is the murder capital of the world, and the fact is a dove -- does have tough gun laws. the hollies, game makers, they're not going to the gun shows. lou: mentioned why the president has not even mentions the awful murder rate in chicago? much of it very near the neighborhood in which she worked f
it with the debt ceiling just seems to be a non-starter. >> it's just a non-starter and a nons sense kal notion. but let me come back to you for one quick second, wes. it's gotten so bad, i mean, it's gotten so out of hand until they want to change the brand now. so tea partiers are trying to actually change their name because the brand has gotten so bad. salon reports that the south florida tea party has announced that it will change its name to the national liberty federation siting concerns about the branding and negative associations with the term tea party. >> well, you know, it's funny. they do have a branding problem. but changing the name ain't fixing it. the branding problem comes back to the policies that you cannot separate from whether you call it one name or whether you call it another name, whether you have one face in charge or another face in charge or whether that face looks different from the people who were in charge before. and as of right now, the only thing looking at it are obstructionists. and they will take notice if they notice that every single major debate that comes
about putting forward a bill that rolls the debt ceiling out, suspend it for awhile. will the president go along with that? >> yeah. the white house indicated he's at least not going to try to block it m i think they preferred a long term clean debt limit, and we talked before here that the real preference would be for, you know, the congress to step back from its role in the debt limit, but i think they are going to go along with what house republicans are doing here. there's question as so whether senate democrats are going to do a budget. chuck schumer who is in the democratic leadership in the senate suggested over the weekend that they were, in fact, going to do a budget, that they had plans to do one all along. i believe it when i see it. gerri: so little credibility on the issue. i mean, four years, four long years with the senate on its hands the whole time. aren't they just a little embarrassed about that? >> you know, i would think so. i think this goes to presidential leadership. this is something we didn't hear from the president yesterday. there were actually four sentences
the front page. all we talked about. >> that's true. >> now the debt ceiling and then it's sequester and the continuing resolution. we go from this cliff to that cliff, and we don't deal with the problem. if we deal with the problem, there's so many assets in america. we can grow our way out of this. >> let me ask you about getting out of a problem and for many it's regular laying. after the 2008 upset, the banking sector has faced much higher regulation. things are changing quite a bit. we're no longer riding a wave of deregulation, quite the opposite. talk to us about the regulatory environment and how you see it. >> clearly regulations increased. we have dodd/frank with, you know, thousands of pages. let's be honest about it. there were some bad actors prior to 2008. i'm all in favor of good solid regulation with regulators who have real teeth and can make things happen. what i don't want to have happen is excessive regulation that stands in the way of us serving our customers. i mean -- >> what's excess? what's one rule that you think is excess? >> i don't know what it's going to
a bit about the debt ceiling. we now have the president, he's already gotten this offer from the house republicans for this extension, this three-month extension. and then i guess that nobody would get paid if the senate doesn't buy this. so do you expect a big fight ahead on this as well? >> well, we expected a much bigger fight. there was that sense that this was building up to be like what we saw in the past. but the white house says they're encouraged by what republicans are doing. you hear senate majority leader harry reid as well, saying that they're encouraged by this move. because, as you know, republicans were saying that they would not raise the debt ceiling on this. there were these equal spending cuts. and the president came out and said, i'm not going to negotiate on this. so this is, i guess you could say, taking some of the air out of that balloon. it won't be intense, at least over the next few months. >> what other issue do you think is going to dominate the early days of this second term? >> i think it has to be immigration reform. that's something that the president
the cliff on the debt ceiling. >> if you do talk to republicans, they'll tell you this is a president, very confident from his re-election. some might use the word cocky, and that he has become more partisan and more hard nosed. would you agree with that sae assessment? >> and is it by necessity or choice? >> no, i think he's become -- he's practical. and if the other side is going to take a position that they're going to oppose you on every initiative, you have to seek national support. in a democracy, people push policy forward not the politicians and so that's a lesson that he has drawn from the first term. that said, as far as i can -- as i know, and as i know him, his door is always open to people who are willing to work together to solve problems and one hopes in the next four years there will be a spirit of cooperation. understand we're never going to agree on anything. that's why we have two parties. in order to move the country forward we have to move together. >> david axelrod, always good to see you. >> good to see you, savannah. >> i know you'll be watching. we will have more on
're talking about raising the debt ceiling is paying bills we've already racked up, but he's incorrect, in my view, when he suggests the raising of the debt ceiling has nothing to do with limiting future spending. it most certainly does. jon: all right. let's play a sound bite that we played a moment ago in which he would have the nation believe he has been at the vanguard of trying to cut wasteful spending. listen to this. >> and for nearly two years now, i've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade which would stabilize our debt and deficit in a sustainable way for the next decade. jon: douglas, i'm told and the washington post actually published this, that the president is including in that $4 trillion number something like $850 billion that he does not intend to spend on the or wars in iraq and afghanistan. >> yeah. the $4 trillion number you just can't make add i. i mean -- add up. the key budget gimmicks are, number one, the wars in iraq and afghanistan, counting as savings money that would never be spent. if you look inside
in terms of reaching the debt ceiling, yet does science seem locked in concrete. i'm not going to talk about the congress. speaker boehner said it can't be done unless we cut spending at the same time. having watched this for more than 30 years in congress, what are the odds of avoiding going over the cliff given where both parties are? >> the outside that we won't do it. it's not a matter of faith. it's a matter of consequence. i mean, those who say okay, let's toilet, they are toying with the american economy and with the global economy. and so, i think it is somewhat -- it seems brave to talk about doing that, but the closer you get to that cliff, the less likely it is that your fund the u.s. over it. >> one another in a booklet of brian butler and start. let me ask you about tax reform. he told "politico" last week that a balanced approach are facing sequester with spending cuts and revenue should accelerate tax reform and i believe it's fully possible this year for work on a bipartisan basis, unquote. how does that square with the people who say tax reform is going to lose out bec
are being clever in some respects. no government shutdown. no debt ceiling default. okay. but mark, the problem i have is they refuse to talk about the across-the-board automatic spending cuts in the so-called sequester. it's about 80, $100 billion this year and $1.2 trillion over ten years. to me that is their biggest mistake. that is already the law. the democrats are trying to hedge on it. the president has already said it's not going to happen. this is where the republicans should go. and they won't go there. and that's why i doubt their bona fides on spending. >> you have to first of all as i said before get across that spending levels are stoo high. keith, you would agree with that, right? >> no. >> see what i mean? they're too high. >> perfect. right. >> you think this level is appropriate. 25% gdp. >> you're talking about gdp to spending -- >> yeah. >> yeah, that is too high. but that's not because we're spending too much. it's because our revenues aren't -- the reason our revenues is r. in decline is we're in a very weak recovery. we got out of the worst resgs -- >> whose
about what kneele just brought up. the debt ceiling debacle and those comments from chuck schumer. all of that after the break. the staggering death toll in the algerian hostage crisis keeps rising. reports say more than 80 people were killed including three americans. now some question why the algerian government acted the way it did. we have details on the latest developments. more "money" coming up. don't go away. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if y
: they were you are. don't move. i want to talk to you about what kneele just brought up. the debt ceiling debacle and those comments from chuck schumer. all of that after the break. the staggering death toll in the algerian hostage crisis keeps rising. reports say more than 80 people were killed including three americans. now some question why the algerian government acted the way it did. we have details on the latest developments. more "money" coming up. don't go away. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. mortgage. married. two great kids. he wants to protect his family with a $500,000 term life insurance policy. what do you think it'll cost him? a hundred dollars a month? sixty? forty? actually none of the above. john can get a $500,000 policy -from a highly rated insurer - for under $25 a month. his secret? selectquote.
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